2023 North End Apartment Rental Market Report

https://bostonpads.com/blog/boston-rental-market/2023-north-end-apartment-rental-market-report/ The apartment rental market in Boston’s North End has begun 2023 like many other metro Boston neighborhoods: with record high rent prices and record low inventory. Availability for North End apartments is down from March 2022, which happened to be an all-time low for March at the time. As a result of the lean inventory, prices have been climbing in North End since the pandemic subsided, and now sit at record highs. Here are the trends driving the North End apartment rental market in 2023. Low Supply of Apartments in Boston’s North End The current real-time availability rate (RTAR) of apartments in North End is 6.04%. Historic North End rental data shows that apartment availability is down -7.93% YOY. RTAR typically peaks in March in the North End, so it is unlikely that apartment availability will rise above the 7% mark in 2023. It’s worth noting that in September of last year, North End’s RTAR hit an all-time low of 0.62%.

Comments

Post a Comment

Popular posts from this blog

Should Your First Boston Real Estate Purchase Be A Multifamily Home?

https://bostonpads.com/blog/real-estate-investing/should-your-first-boston-real-estate-purchase-be-a-multifamily-home/ If you’re a first-time home buyer fortunate enough to have some capital to put down, purchasing a multi-family home in Boston could open all kinds of doors for you! A multifamily property (or multi-dwelling unit) is defined as a residential building with two or more units under one roof or several buildings in one complex. Duplexes, townhouses, apartment complexes, and some types of condominiums are all examples of multifamily properties. The Boston real estate market, overall, continues to be robust- with renters in various multi-dwelling units staying put longer and renewing their leases at higher rates than in the past few years. With a ready down payment and the right mortgage, you can potentially purchase a multifamily property as easily as if you were buying a single-family home. Investing in a multifamily property in Boston can provide you and your family with...
Read more

6 of the Best Brookline Apartments Now on Market

https://bostonpads.com/blog/renters/6-of-the-best-brookline-apartments-now-on-market/ Renters who live in Brookline apartments have access to bars, restaurants, shopping, nature, and culture. The town, which is located next to the city of Boston, has an expansive system of open space and parks that range from historic landscapes to small playgrounds. Brookline is also home to two (2) historic sites included the birthplace of President John F. Kennedy, and the home of Frederick Law Olmsted, who’s considered the father of American landscape architecture. The Larz Anderson Museum, which houses the oldest motorcar collection in the United States, is also located in the town. Brookline apartments go fast since it’s a highly desirable place to live with something for everyone. If you’re interested in residing here now or in the near future, we highly suggest that start your search ASAP. To get you started, here are six (6) of the best Brookline apartments now on the market.
Read more

2023 Mission Hill Sales Market Report

https://bostonpads.com/blog/boston-housing-market/2023-mission-hill-real-estate-sales-market-report/ The real estate market in Mission Hill has started 2023 in a deep chill as property sales decline city-wide. Mission Hill has recorded just 3 residential property transactions over the past 3 months. That ties the lowest 3 month total in the past five years of MLS data. The 30 day median sale price also failed to eclipse $1M for 3 months in a row for the first time since mid 2021. Let’s take a closer look at the trends driving Mission Hill’s real estate market. Total Real Estate Sales in Mission Hill Since November, Mission Hill has recorded just one property sale in each of the last 3 months. Given its small geographical area, total residential sales for Mission Hill real estate typically average around 3-4 per month. Still, just 3 residential sales over a 3 month period is the lowest rolling 3 month total since late 2019. We can make some fair assumptions that that our misguid...
Read more